Every successful organisation is guided by effective leaders. The new year presents an opportunity to reflect on past actions and explore what can be altered for improved governance. As time passes, governing requirements also change and an aspect of leadership is the ability to adapt to new conditions. Here are some resolutions to think about for the year ahead.
Strengthen Board Oversight
The start of the year is a great time to ask the right questions. This sets the tone for the rest of the year and makes sure that the board has a collective understanding of the organisation’s mission and long-term goals. During this time, board members can have a refresher on what the company’s vision is, the mission statement and what strategies are best to achieve those goals. Having a clear understanding of the vision and mission statement will set your board on the right track for the future. This allows the chairperson to analyse what issues need to be prioritised.
As well as guiding the strategic mission, it’s important to remember that your decisions can affect the employees. When the strategic plan is created, ensuring that the company’s culture and values are positive and being upheld can be the next step. A good working environment will foster a more enthusiastic workplace and increase engagement levels which helps towards reaching those long-term goals.
Advance Ethics, Equity and Inclusion
Inclusion allows for diverse experiences and opinions to be incorporated into the organisation. An inclusive and respectful environment fosters engagement as every person feels that their efforts and opinions are valued which positively impacts role retention. A welcoming culture with diverse experiences can lead to greater innovation. Ethically, were there sufficient plans in place to ensure that appropriate action could be taken if there was misconduct in the workplace? Did last year’s meetings focus on the topic of ethics and compliance adequately?
Strengthen Risk and Compliance Oversight
A vital aspect to good governance is maintaining and strengthening risk and compliance oversight. The Audit and Risk Committee can assess last year’s mitigation plans and aim to apply new policies. The Finance Committee can also revisit last year’s financial report to make sure the new budget and financial plan is aligned with the overall strategy.
Support and Evaluate Leadership
The new year is a great time to reflect on the past and look to the future. Everyone has skills to work on and a great way of figuring out how to improve the board is through surveys. Evaluations can provide data that can point to gaps in the board’s performance and give feedback that can be used to create steps towards improvement. A plan of action can also be made to track progress and to measure the impact of the training opportunities. Improving leadership is good for both personal growth and the organisation.
Improve Board Effectiveness
Improving board effectiveness leads to clarity, efficient decision-making, better performance and stronger governance. Having a succession plan in place for the chair, non-executive directors and executive leadership is essential for stability, the retention of critical skills and knowledge of the organisation. Also, clarifying the responsibilities and distinctions between the director the chair and committees will improve board effectiveness by maximising focus and preventing overlapping conflict.
Summary
Summary of Resolutions
- Strengthen board oversight
- Advance equity and inclusion
- Strengthen risk and compliance oversight
- Support and evaluate leadership
- Improve board effectiveness
These resolutions can be implemented whether your committee or board is part of a public, private, housing, healthcare or nonprofit organisation. Despite this being a New Year’s resolution list, these changes can be put into action when necessary.
How Convene Can Help
Convene is the platform for streamlining board meetings. With AI-powered tools and a focus on protecting confidential information it’s easier than ever to build agendas, circulate board packs and create meeting minutes.
Convene AI
Summarisation
Convene’s AI reduces the time it takes to get transcripts and recordings. The AI-generated summaries can be edited to improve precision and if you want to revisit a certain topic, you can search for keywords.
Executive-Ready Minutes
Convene AI can note down minutes and edit the grammar, tone and structure according to your preference.
Security Certifications
- ISO 27001 – Exhibits commitment to safeguarding sensitive data
- ISO 27018 – Evidence of sturdy security controls
- ISO 27017 – Shows dedication to protecting data in the cloud
- AICPA SOC – Confirms strong security practices
- CMMI DEV 5 – An indication of the highest level of process maturity and focus on improvement
A board portal allows directors, executives, administrators and secretaries can maximise their time on dealing with the important matters rather than the processes surrounding it.
Book a demo today!
- Connect:
-
